CN railroad names new CEO, resolves dispute with investor
OMAHA, Neb. (AP) — Canadian National railroad has named a new CEO. It also reached an agreement with the investment fund that has been pushing it to focus more on cutting costs and streamlining its operations.
The Montreal-based railroad said Tracy Robinson will lead Canadian National. Robinson previously spent 27 years working at rival Canadian Pacific railroad.
She will replace retiring CEO JJ Ruest, who announced he would step down after CN failed to acquire Kansas City Southern railroad last year.
The London-based TCI investment firm agreed to drop its demand for a special shareholder meeting after the railroad agreed to work it to appoint two new independent directors with railroad experience.